29/07/10 - Ulster Bank backs acquisition by Newry solicitor

One of Newry’s best known firms of solicitors has acquired a substantial rival practice in the local area.

The purchase of Robert A Mullan & Sons, which was owned by Lady Ballyedmond, by D&E Fisher Solicitors, with support from Ulster Bank, will significantly expand the company’s client-base.

Robert A Mullan was established in 1874 and is one of Newry’s oldest and best known legal practices.

Ulster Bank has provided funding to support the deal, which will safeguard 12 jobs.

The funding has come from the bank’s £300m fund for small and medium-sized enterprises, which has already supported hundreds of firms this year.

Karen O'Callaghan, relationship manager at Ulster Bank, says that D&E Fisher is an important contributor to the local economy.

“D&E Fisher has been operating in the Newry area for more than 60 years and has provided important services to thousands of businesses and members of the local community during that time, as well as providing employment to a significant number of people,” she points out.

“We are extremely pleased to support the acquisition, which will result in the expansion of D&E Fisher’s client book and the further development of an important local company.

“We have provided a large amount of funding to support solicitors and it is a sector that we are committed to funding, given its importance to the Northern Ireland economy”.

Ulster Bank announced a £300m SME fund earlier this year which has supported hundreds of small businesses in Northern Ireland so far in 2010. This is in addition to millions of pounds of funding the bank provides to larger corporate businesses and the £500m it has committed to lend to the local economy in mortgage lending.

D&E Fisher, based at Trevor Hill in Newry, is owned by Norville Connolly - currently President of the Law Society of Northern Ireland - and Robert Ferguson, and specialises in conveyancing, probate and litigation.

Managing Partner, Robert Ferguson said: “We are very pleased with this acquisition as the client profile of Robert A Mullan is very similar to the client profile in D&E Fisher and the two firms will therefore fit together very well”.

Robert A Mullan and Sons was owned for over thirty years by Lady Ballyedmond who will continue to act as a consultant for a time in the combined practice.